ITC hit 52-week high🤯🤯
ITC’s share price crossed the 300 mark and it hit the 52-week high of 317. What exactly are the reasons?
✅Strong Quarter performance:
o Sales grew by 10% QoQ and 39.5 YoY.
o Operating profit grew by 8.53% QoQ and 36.7% YoY.
o Net profit grew by 4.6% QoQ and 34% YoY.
✅Diversified Presence in the market:
o FCMG (Cigarettes): 45% of ITC’s revenue comes from this segment and ITC is the leader in the organised domestic cigarette market. Stability in taxes on cigarettes enabled volume recovery.
o Hotel Business: Hotel segments clocked the highest-ever quarterly profit in the last 14 years.
o Agribusiness: 13% of ITC’s revenue comes from agribusiness. ITC is the second largest exporter in the country. Agribusiness recorded its highest quarterly revenue.
Do you think ITC will be able to sustain this share price?